[Fossil Fuel Treaty]: Net Zero Producers Forum analysis

Jay Owen Green Prosperity, Reforming Global Finance, SRI/ESG News, Trendspotting, Latest Headlines

“Ethical Markets supports all these NGOs, ethical and green investors driving the legacy fossilized sectors to shift to renewables and keep their fossil reserves in the ground.  Carbon is a ubiquitous element to use to burn and waste!  If it remains valuable and kept in the ground, it can also ease the financial risks of stranded assets still continuing to devastate balance sheets and financiers’ assets.  We have tracked this trend since 2009 in our annual Green Transition Scoreboard® reports:

“Capturing CO2 While Improving Human Nutrition and Health“, (2018) and “Transitioning to Science-Based Investing” (2019-2020)

Also, watch Mark Carney on his new book ”Value“ (2021), just released on PBS “Amanpour”, (video segment 2), May 26, 2021 who now seems to be agreeing with us all!

~Hazel Henderson, Editor“

Lots of remarkable news on the fight against Big Oil today!

As you may have seen last month, on the sidelines of the Leaders Climate Summit hosted by U.S. President Biden, the United States joined with Canada, Norway, Qatar, and Saudi Arabia to announce the so-called “Net Zero Producers Forum” (NZPF).

While this forum is the first international initiative bringing together major fossil fuel producers to discuss the direct impact of climate policy on the production of oil and gas, so far it appears to fall far short of the key task needed from such a group, and laid out by the International Energy Agency last week: Ending new fossil fuel production.

Today, Oil Change International and the FFNPT are releasing a new analysis examining and critiquing the Net Zero Producers Forum for the lack of ambition it has shown.

Briefing: http://priceofoil.org/net-zero-producers-forum-briefing

 

The briefing is being jointly released with OCI’s partners at the Center for International Environmental Law, Climate Action Network Canada, Environmental Defence, the Fossil Fuel Non-Proliferation Treaty, Friends of the Earth U.S., Greenpeace, and Stand.earth, and we’d appreciate your support in reading and spreading the analysis.

 

Here are a few excerpts the briefing:

  • At the #ClimateSummit, @JoeBiden joined other major oil-producing nations to launch the “#NetZero Producers Forum.” But they forgot something on the way: To achieve the Paris goals, we need NO new fossil fuels. Read more in new brief from @PriceofOil: http://priceofoil.org/net-zero-producers-forum-briefing
  • Will the Net Zero Producers Forum of major oil-producing countries actually discuss the KEY step of phasing out fossil fuel production on the path to zero emissions? So far, it’s not looking hopeful. New @PriceofOil analysis: http://priceofoil.org/net-zero-producers-forum-briefing